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Coal India Limited became the preferred bidder for the Gadadharpur Iron Ore Block in Keonjhar district, Odisha, on 6 August 2026.
It is Coal India's first iron ore asset, secured through a competitive auction conducted by the Government of Odisha.
The block covers 265.05 hectares and is at the G3 exploration stage under the United Nations Framework Classification.
Coal India quoted an auction premium of 114.05% of the value of minerals dispatched.
The company has one year to complete regulatory clearances and three years to execute the mining lease deed.
Mineral blocks in India are classified by how thoroughly they have been explored, using the United Nations Framework Classification. G4 is reconnaissance, G3 is preliminary exploration, G2 is general exploration and G1 is detailed exploration. A G3 block therefore has an indicated resource but requires further core drilling and closer-spaced sampling before a detailed resource estimate can be made and mining can begin. Separately, winning an auction makes a company the 'preferred bidder', not yet the successful bidder — that status follows only after statutory clearances are completed within the prescribed timelines.
Simple Analogy: Being the preferred bidder is like having the winning offer accepted on a house that still needs its title checked and survey done. The deal is yours to lose, but it is not yet done.
GS Paper 3 > Indian Economy — mineral resources, PSUs, infrastructure
General Awareness > Indian economy and public sector undertakings
General Awareness > Indian industry and PSUs
General Awareness > Economy and mineral resources
Read the following statements carefully and choose the correct option: Assertion (A): Iron and steel is considered a heavy industry. Reason (R): It requires lightweight raw materials like cotton and rubber.
Answer: A is true, but R is false
The highest category of central public sector enterprise status in India, granting the greatest operational and investment autonomy.
The winning bidder in a mineral auction, who must complete statutory clearances before being declared the successful bidder.
Preliminary exploration under the United Nations Framework Classification, requiring further drilling and sampling before detailed resource estimation.
The percentage of the value of minerals dispatched that a bidder agrees to pay the state, the key competitive variable in Indian mineral auctions.